The holistic economic development or Bio-Circular-Green Economy Model (BCG Model) is the new economic development model for sustainable development and applies knowledge, administration, science, and technology in its concept, which is aimed at building economic strengths. It is bringing value from biodiversity and culture to converts into economic value. Furthermore, it is using the complete agricultural yield to change the consumption and production systems to use resources efficiently, maintain the balance, and reach sustainable development.

BCG Model is a 3D economic development at the same time, including 1). Bio-Economy, which enhances biological-resources management to increase value-added; 2). Circular Economy, which is based on the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems; 3). Both Bio-Economy and Circular Economy are under the Green Economy, which is the development of the economy and society at the same time. It is improving the environment to create sustainability in all dimensions and to use Thailand’s biodiversity and culture as a competitive advantage to urging economic growth. It is aimed at empowering local economies, increasing GDP growth while being eco-friendly, and sustainable development.

The Thai government has placed great emphasis on holistic economic development. Therefore, the government assigned the National Science and Technology Development Agency (NSTDA) to host a “BCG: An Economic Model for Sustainable Development” Assembly on July 15, 2020, at IMPACT Arena, Exhibition and Convention Center, Muang Thong Thani, Nonthaburi and through an online meeting. In this regard, Ms. Piyaporn Saelim, TRA Manager, Mr. Sujin Akewanon, and Mr. Phudit Junthawadee TRA staff attended the online meeting.

The meeting discussed Thailand’s agricultural problems, including 1). Water shortage/drought, which requires water usage management in the agricultural sector to be the most beneficial and efficient; 2) Shortage of agricultural workers in the future because new generations are not interested in the agricultural sector; 3) Costs of production in Thailand are quite high contrast with the low yield, resulting in lacking competitive opportunities. Moreover, the meeting agreed that BCG in the agricultural sector has advantages such as 1) Increasing GDP; 2) Increasing efficiency and avoiding the loss; 3) To build occupational stability and employment; 4) Residue-safe for both farmers and consumers; 5) Consumers are well-being from consuming nutritious produce; 6) Reduce environmental contamination; 7) Reducing incineration and dust; 8) Resource efficiency; 9) Increasing green environment. In term of BGC Model measures, it includes 1) the laws that will affect the income enhancement and support continuous industry; 2) the laws on advancement and using high-efficiency technologies such as accelerating the production factors registration; 3) supporting agricultural innovation; 4) developing further small water bodies areas; 5) investing in the small air measurement area for planning the production and alarm system; 6) investing in infrastructure to applies with Big Data; 7) promoting the database efficiency usage at all levels, policies, industry, and farmers.

In conclusion, the holistic economic development or BCG Model focuses on sustainability in both production and consumption, dealing with climate changes, protecting biodiversity, and cooperating in sustainability development. Moreover, BCG Model also related to Sufficiency Economy Philosophy, which is an important key in Thailand’s economic development. Furthermore, the BCG Model also focuses on economic growth that puts great importance on the distribution of opportunities, incomes, and prosperity to all people without leaving anyone behind.